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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: mike wood who wrote (588)1/19/1999 7:53:00 PM
From: Tupulak  Read Replies (1) of 1208
 
Mike,
I am not sure what it is that you are trying to say. I highly doubt that anyone is converting their debentures at the moment at these prices. I may be wrong on the conversion price but believe it to be around $1.50. This would give you approx. 66.66 shares per $100. bond. So why would any convert something that they are getting 8% return for something that is worth less than half of the face value? I have noticed that some of the debentures are selling on the open market for $75.00/$100.00 face value. They will trade similiar to a bond until the stock price is above the conversion price then become priced off of the stock. I hope this helps and I am still watching.
Curtis
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